What are the pros and cons of side by side financing, and is it a viable option for individuals looking to invest in real estate?

Side by side financing, also known as joint venture financing, is a popular method for individuals to invest in real estate without shouldering the entire financial burden themselves. In this arrangement, two or more parties pool their resources to purchase a property, sharing both the investment costs and potential profits. However, like any financial strategy, side by side financing comes with its own set of advantages and drawbacks. I'm curious to hear from those who have experience with this approach: What are some of the benefits and pitfalls you've encountered? Is side by side financing a smart choice for aspiring real estate investors, or are there better alternatives? Let's discuss!